Europe, Middle East and Africa Tax Facts 2012 - Crowe Horwath ...

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BULGARIA INCOME TAX RATES 2012 Individuals 6 Taxable Income (BGN) Tax Rate (%) All income – fl at rate 10 Companies Taxable Income (BGN) Tax Rate (%) All income – fl at rate 10 VALUE ADDED TAX (VAT) Standard rate - 20% Reduced rate - 9% for accommodation provided by hotels and similar establishments Zero rate – export, international transport of goods and passengers, other supplies listed in the VAT Act. CAPITAL GAINS TAX (CGT) Individuals Tax rate 10% - gains from immovable property, sale of fi nancial assets. Exempt capital gains – disposal of shares quoted in a regulated stock market in the EU/ EEA, one residential property per year (for BG residents and EU/EEA nationals), up to two immovable properties per year (at least fi ve years holding). Companies Tax rate 10% - gains from immovable property, sale of fi nancial assets. Gains or losses from the disposal of shares quoted in a regulated stock market in the EU/EEA are not taxable. LOSSES Loss set-off is possible. The losses can be carried forward for a maximum of fi ve years. TREATY NETWORK 68 countries. WITHHOLDING TAX Dividends: exempt for companies resident in Bulgaria, EU or EEA 5% elsewhere unless reduced with relevant treaty Interest: 10% unless reduced with relevant treaty; 5% (following the provisions of EC Interest and Royalties Directive (2003/49/EC) Royalties: 10% unless reduced with relevant treaty; 5% (following the provisions of EC Interest and Royalties Directive (2003/49/EC) CONTACT: Georgio Kandilarov georgio.kandilarov@tpa-horwath.bg TPA Horwath OOD 28, Todor Alexandrov Bld., fl . 5 Sofi a BG - 1000 Bulgaria Tel: +359 2 981 66 45 Fax: +359 2 981 66 46 www.tpa-horwath.com Europe, Middle East and Africa Tax Facts 2012 Last updated: May 2012
CROATIA INCOME TAX RATES 2012 Individuals Taxable Income (HRK) Tax Rate (%) Up to 26,400 12 From 26,400 - 105,600 25 Over 105,600 40 Companies Taxable Income (HRK) Tax Rate (%) Regardless of income 20 VALUE ADDED TAX (VAT) 25% on majority of goods and services; 10% on tourism and accommodation services, certain magazines and newspapers, edible oils and fats, children’s food, sugar, water except bottled water; 0% on certain items and exports. CAPITAL GAINS TAX (CGT) There is no separate capital gains tax. Capital gains are included in the taxable base of the income of the resident. Gains on non-business assets of individuals are exempt. Capital gains of non-residents are exempt from taxation. LOSSES Both individual and company tax losses can be offset against income. Losses can be carried forward for fi ve years. Losses cannot be carried back. TREATY NETWORK 55 countries. WITHHOLDING TAX Dividends: 12% Interest: 15% Royalties: 15% CONTACT: Edo Tuk edo.tuk@tpa-horwath.hr TPA Horwath d.o.o. Grand Centar, Petra Hektorovica 2 10 000 Zagreb Croatia Tel: + 385 1 488 2 555 www.tpa-horwath.hr Europe, Middle East and Africa Tax Facts 2012 7 Last updated: May 2012
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